In the context of an insurance policy,'market value' means the cost of the item when purchased new in the market.

Name: In the context of an insurance policy,'market value' means the cost of the item when purchased new in the market.
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In the context of an insurance policy, 'market value' means the amount that an item would be expected to sell for in its current used condition on the open market. It takes into account factors such as depreciation and wear and tear.

In the Context of an Insurance Policy,'market Value' Means the Cost